Barrick Gold Corp (NYSE:GOLD) Shares Sold by Cedar Wealth Management LLC

Cedar Wealth Management LLC reduced its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 9.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 64,850 shares of the gold and copper producer’s stock after selling 6,790 shares during the period. Cedar Wealth Management LLC’s holdings in Barrick Gold were worth $1,290,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of GOLD. Kingsview Wealth Management LLC acquired a new position in shares of Barrick Gold in the 1st quarter valued at $190,000. Orion Portfolio Solutions LLC boosted its stake in Barrick Gold by 6.0% during the first quarter. Orion Portfolio Solutions LLC now owns 82,133 shares of the gold and copper producer’s stock worth $1,367,000 after buying an additional 4,652 shares during the period. Vanguard Group Inc. increased its position in shares of Barrick Gold by 1.7% during the first quarter. Vanguard Group Inc. now owns 64,761,067 shares of the gold and copper producer’s stock valued at $1,077,624,000 after acquiring an additional 1,089,572 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Barrick Gold by 262.6% in the 1st quarter. Acadian Asset Management LLC now owns 47,500 shares of the gold and copper producer’s stock valued at $789,000 after acquiring an additional 34,400 shares during the period. Finally, Seven Eight Capital LP acquired a new position in shares of Barrick Gold in the 1st quarter worth approximately $652,000. 62.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on GOLD shares. Raymond James dropped their target price on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a report on Thursday, September 26th. Jefferies Financial Group lifted their target price on Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Thursday, August 29th. TD Securities lowered their price objective on shares of Barrick Gold from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Finally, Scotiabank cut their target price on shares of Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating on the stock in a research note on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Barrick Gold presently has an average rating of “Moderate Buy” and a consensus price target of $23.90.

Barrick Gold Stock Up 3.1 %

Shares of NYSE:GOLD opened at $17.73 on Wednesday. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week high of $21.35. The stock has a market cap of $30.99 billion, a price-to-earnings ratio of 19.06, a price-to-earnings-growth ratio of 0.39 and a beta of 0.56. The firm’s 50 day moving average price is $19.61 and its 200 day moving average price is $18.50.

Barrick Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 2.26%. Barrick Gold’s dividend payout ratio (DPR) is currently 43.01%.

Barrick Gold Profile

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.
 
In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.